French real estate investment trust Gecina has invested €45.8m to buy a 6,000sqm residential development project in Rueil-Malmaison in the western suburbs of Paris.
Gecina said it bought the 93 housing units, spread across three buildings, being developed in Rueil-Malmaison by Les Nouveaux Constructeurs.
The project is expected to be completed in the first quarter of 2024.
Gecina said it has so far this year signed reservation agreements with a view to acquiring four residential projects, representing more than
410 housing units in Paris, Bordeaux, Marseille and Rueil-Malmaison, with their delivery scheduled for 2023 to 2024.
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